Question: timed task, need help, asap thanks Duque, a resident citizen, sold in 2021 the unlisted shares of stocks of PhilHehe Company, a domestic corporation with

timed task, need help, asap thanks

timed task, need help, asap thanks Duque, a resident citizen, sold in

Duque, a resident citizen, sold in 2021 the unlisted shares of stocks of PhilHehe Company, a domestic corporation with the following data: Selling price on a direct sale to Dela Rosa P3,000,000 FMV of the shares of stock at the time of sale 3,500,000 Cost of the shares sold 2,000,000 How much is the donor's tax due? 15,000 30,000 meow meow

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Answer the following. 1. Which of the following tax refunds constitutes income? a. Refund of Philippine income tax b. Refund of estate tax . Refund of % of 1% stock transaction tax d. Refund of...

Prepare 2013 gift tax returns (Form 709) for both of the Polks. A 2513 election to split gifts is made. The Polks have made no taxable gifts in prior years. Relevant Social Security numbers are...

Hi, I have an Assignment for my Finance Subject. I have attached the necessary documentation here for you to view including the Lecture slides of all the Topics covered for this assignment. Please...

Task 7 1. A discrete random variable has a mean of 400 and a variance of 64. What is the standard deviation? (Points : 1) 20 64 8 400 None of the above Question 2. 2. Data for a particular...

Hi tutor, I have been assigned to develop a master budget for airline industry and the airline we have chosen is Qantas. In master budget,I have to make following budgets, 1)Sales Budget 2)Production...

For this assignment, you will read the Electrolux and GE Appliances case study, which offers an analysis of the Electrolux?s valuation process during its acquisition of GE Appliances in August of...

Case:- SERUM INSTITUTE OF INDIA: COVID-19 VACCINE PRICING I am happy to announce that the Indian vaccine industry will dedicate half of its COVID-19 vaccine production capacity - of billions of doses...

TIMED TASK, NEED HELP ASAP. TY SUKON Company acquired equity securities at the beginning of 2020. SUKON Company provided you the following information: Security. No. of shares Acquisition Cost AKO...

TIMED TASK. NEED HELP ASAP. Lika-lika died leaving the following properties: House and lot in the Philippines P (mortgaged for P300,000) 1,250,000 Condominium unit in Hongkong 1,000,000 Car in the...

TIMED TASK NEED HELP ASAP, THANK YOU! The following information is made available in relation to the defined benefit plan of Marcos Company for the year 2022: Current service cost 200,000 Fair value...

Ed Davidson is evaluating whether Freeman Plumbing Supplies should begin a dividend reinvestment plan (DRIP). According to the plan, stockholders' dividends would be automatically reinvested in the...

Drew Carey Company has the following balances in selected accounts on December 31, 2010. Accounts Receivable......... $ -0- Accumulated DepreciationEquipment.. -0- Equipment............. 7,000...

The savings ratio indicates your ability to repay loan obligations promptly with before - tax income. True False

A company has decided to globally market a product that is intended to disinfect medical device. Which should be considered FIRST when registering this product as a medical device? a. Product...

There are lower levels of tertiary education in technical and scientific subjects than in other (developing) countries and this is likely to affect the skills pool.

Private sector organizations in South Africa spend only an estimated 2 per cent of payroll per year on education and training, compared with 68 per cent in the leading industrial nations (Horwitz et...

Government pressure has increased for the upward mobility of black managers, particularly in the public and parastatal (publicly owned utilities) sectors.